According to a report from the World Economic Forum, artificial intelligence (AI) is set to become central to the fabric of institutions and will completely transform the financial landscape as we know it. In the past dominant institutions were built on the scale of their assets, standardised products which drove cost-effective revenue growth, exclusive and direct access to their markets, high switching costs and human ingenuity. In the future, these institutions will instead be built on scale of data. AI will drive operational efficiency and tailored experiences. It will augment human talent and technology to give optimum performance.